Lucid Group, Inc. (LCID) is a company specializing in the design, engineering, and manufacturing of high-performance electric vehicles (EVs) and advanced powertrain components. The company is committed to innovation in the EV industry, focusing on delivering luxury electric vehicles and cutting-edge technology. In addition to vehicle sales, Lucid engages in research and development, manufacturing, and retail expansion to support its global operations.
- Vehicle Sales - Sells high-performance electric vehicles, including the Lucid Air, with revenue recognized upon delivery to customers.
- Non-Warranty After-Sales Vehicle Services and Parts - Provides vehicle services and parts not covered under warranty.
- Powertrain Kits and Retail Merchandise - Offers advanced powertrain kits and branded retail merchandise.
- Regulatory Credits - Generates revenue through the sale of regulatory credits.
- Vehicle Operating Lease Revenue - Includes sales of vehicles with repurchase obligations, accounted for as operating leases, though this revenue is not material.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Derrick Carty Executive | Interim Leader, Digital Organization | None | Derrick Carty joined Lucid in June 2022 as VP, Platform Software and became Interim Leader of Digital in May 2024. He previously worked at Apple for over two decades. | |
Eric Bach Executive | SVP, Product & Chief Engineer | None | Eric Bach joined Lucid in 2015 and became SVP, Product & Chief Engineer in March 2021. He previously held engineering roles at Tesla and Volkswagen. | |
Gagan Dhingra Executive | Interim CFO | None | Gagan Dhingra joined Lucid in December 2021 as VP of Accounting and became Interim CFO in December 2023. He is a CPA and Chartered Accountant with over 20 years of experience. | |
Marc Winterhoff Executive | COO | None | Marc Winterhoff joined Lucid as COO in December 2023. Previously, he was a partner at Roland Berger, focusing on operational leadership for automotive manufacturers. | |
Peter Rawlinson Executive | CEO & CTO | None | Peter Rawlinson joined Lucid in 2013 as CTO and became CEO & CTO in April 2019. Previously, he was VP of Vehicle Engineering at Tesla, leading the Model S program. | View Report → |
Andrew Liveris Board | Chairman of the Board | IBM (Board Member), Saudi Aramco (Board Member), NOVONIX Limited (Board Member), WorleyParsons Limited (Board Member), Brisbane Olympics (President) | Andrew Liveris has been Chairman of Lucid's Board since April 2023. He is a former CEO of Dow Chemical and holds multiple board and advisory roles globally. | |
Chabi Nouri Board | Board Member | Mirabaud Asset Management (Co-Manager), Watches of Switzerland Group PLC (Non-Executive Director) | Chabi Nouri joined Lucid's Board in April 2023. She is the former CEO of Piaget and has extensive experience in luxury goods and innovation. | |
Janet S. Wong Board | Board Member | Enviva Inc. (Board Member), Lumentum Holdings Inc. (Board Member), Shine Technologies (Board Member) | Janet S. Wong joined Lucid's Board in July 2021. She is a retired KPMG partner with over 30 years of public accounting experience. | |
Lisa M. Lambert Board | Board Member | Vital Energy, Inc. (Board Member), UL Solutions, Inc. (Board Member), George Kaiser Family Foundation (CIO, Private Markets) | Lisa M. Lambert joined Lucid's Board in June 2024. She has extensive experience in technology and innovation, including leadership roles at Intel and National Grid. | |
Nichelle Maynard-Elliott Board | Board Member | Xerox Holdings (Board Member), Element Solutions Inc. (Board Member), Advisors’ Inner Circle Fund III (Trustee), Chiron Capital Allocation Fund Ltd (Director) | Nichelle Maynard-Elliott joined Lucid's Board in July 2021. She is a retired corporate attorney with expertise in business strategy and investments. | |
Ori Winitzer Board | Board Member | Integrated Media Company (Partner), Savvy Games Fund (Director), FootballCo (Director & Co-Chairman) | Ori Winitzer joined Lucid's Board in April 2023. He is a founding partner at Integrated Media Company and has expertise in digital media investments. | |
Turqi Alnowaiser Board | Board Member | Uber (Board Member), Hapag-Lloyd AG (Board Member), PIF (Deputy Governor) | Turqi Alnowaiser has been on Lucid's Board since April 2019 and became Chairman in April 2023. He is Deputy Governor of PIF and holds multiple board roles. |
- Can you elaborate on the working capital requirements for next year as you ramp up production of the Lucid Gravity, and how do you plan to manage these needs given your current financial resources?
- As you aim for the start of production of the Midsize vehicle in late 2026, what steps are necessary to ensure this ramp can proceed given your current financial position, and are there any milestones that need to be met to support it?
- How should we think about the impact of the Gravity's production ramp on your gross margins over the next several quarters; will it initially be a headwind before achieving greater volume, and what is your outlook for margin improvement during this period?
- With a significant portion of your engineering and powertrain teams already working on the Midsize vehicle, how are you allocating resources to balance the development of future products while ensuring the ongoing success and improvement of your current models like the Air and Gravity?
- Given that the Lucid Gravity involves substantial differences from the Air's platform, how do you anticipate this will impact production costs and economies of scale, and how will it affect your strategy for achieving cost efficiencies across your product lineup?
Research analysts who have asked questions during Lucid Group earnings calls.
Stephen Gengaro
Stifel Financial Corp.
4 questions for LCID
Andres Sheppard-Slinger
Cantor Fitzgerald
3 questions for LCID
Tobias Beith
Redburn Atlantic
3 questions for LCID
John Murphy
Bank of America
2 questions for LCID
Adam Jonas
Morgan Stanley
1 question for LCID
Andres Sheppard
Cantor Fitzgerald
1 question for LCID
Christopher Pierce
Needham & Company
1 question for LCID
David Sunderland
Baird
1 question for LCID
Gautam Narayan
RBC Capital Markets
1 question for LCID
Jake Scholl
BNP Paribas
1 question for LCID
James Picariello
BNP Paribas
1 question for LCID
Steven Fox
Fox Research
1 question for LCID
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Government of Saudi Arabia | EV Purchase Agreement for up to 100,000 vehicles | Middle East | Accounts Receivable: 51.7% of total in 2024 , 68.5% in 2023. <br/>Revenue: $191.1 million in 2024 , $58.993 million in 2023. |
Recent press releases and 8-K filings for LCID.
- Lucid Group, Inc. completed a one-for-ten (1:10) reverse stock split that became effective on August 29, 2025, at 5:00 p.m. Eastern Time.
- The company's common stock is expected to commence trading on a reverse split-adjusted basis at market open on September 2, 2025, under its existing trading symbol "LCID".
- This action will reduce the number of outstanding shares from approximately 3,072.6 million to approximately 307.3 million and the authorized shares from 15 billion to 1.5 billion.
- Stockholders will receive a cash payment for any fractional shares, as no fractional shares will be issued.
- Lucid Group, Inc. will proceed with a 1-for-10 reverse stock split and a corresponding reduction of its authorized shares, which was previously approved by stockholders on August 18, 2025.
- The reverse stock split and authorized share reduction are expected to be effective at 5:00 p.m., Eastern Time on August 29, 2025.
- Lucid's common stock is expected to begin trading on a split-adjusted basis under the same symbol (LCID) when the market opens on September 2, 2025.
- The reverse stock split will reduce the number of outstanding shares from approximately 3,072.6 million to approximately 307.3 million, and authorized shares from 15 billion to 1.5 billion.
- Lucid reported missing Q2 revenue estimates and a larger-than-expected loss per share, leading to a trim in full-year production guidance, despite achieving its sixth consecutive record quarter for deliveries and record production in Q2.
- The company's liquidity stands at $4.86 billion, which is projected to fund operations until the second half of next year.
- Lucid is addressing supply chain challenges, particularly related to trade policy and tariffs, by diversifying sourcing, including plans for the vast majority of battery cells for US production to come from the US.
- Development of autonomous vehicles with Uber and Nuro is progressing, with initial rollouts targeted for the end of next year (late 2026) in the US and globally.
- Uber has invested $300 million in Lucid and "several hundred million" in Nuro for an equity stake, forming a partnership to launch robotaxis.
- Lucid will integrate Nuro's driver hardware and sensing compute into its Gravity SUVs, with Nuro's software providing the driving capability for vehicles owned and operated by Uber.
- The collaboration aims for 20,000 Lucid Gravity SUVs to be delivered to Uber over a six-year period, with production slated to start in late 2026.
- Nuro's autonomous driving technology, which will be used in these vehicles, utilizes Nvidia's Thor SoC for compute, contributing to simplified complexity and reduced costs.
- Share Incentive Plan Amendment Approved: At the Annual Meeting on June 5, 2025, shareholders approved the Lucid Group, Inc. Amended and Restated 2021 Stock Incentive Plan, increasing the available Class A common stock by 184,000,000 shares.
- Multiple Key Proposals Voted: Shareholders also cast votes on director elections, the ratification of KPMG LLP as the auditor for FY2025, and an advisory vote on executive compensation, all finalized during the meeting.
- Lucid delivered 3,109 vehicles in Q1 2025, marking a 58% YoY increase .
- The company produced 2,212 vehicles in Q1 2025, a 28% increase YoY .
- Q1 2025 revenue reached $235 million .
- Ended the quarter with approximately $5.76 billion in liquidity .
- Provided a production outlook to manufacture around 20,000 vehicles in 2025 .
- Reported a GAAP net loss per share of $(0.24) in Q1 2025 .
- Lucid Group Inc. has reached an agreement to acquire select Arizona facilities and assets formerly owned by Nikola Corporation, including the Coolidge manufacturing facility and the Phoenix headquarters, adding over 884,000 sq ft of manufacturing and warehousing space.
- The company will also offer employment to more than 300 former Nikola employees for roles in manufacturing engineering, software, assembly, vehicle testing, and warehouse support.
- Lucid Group, Inc. closed a $1.1B convertible senior notes offering due 2030 with net proceeds of approximately $1,082.2M, structured with PIF support and using capped call hedges that increased the effective conversion price to $4.80 per share (100% premium over the last reported sale price of $2.40) .
- Lucid Group, Inc. also priced a $1B convertible senior notes offering due 2030 at 100% of principal with a 5.00% interest rate, settling on or about April 8, 2025 .
- Part of the funds from the $1.1B offering was used to repurchase about $1B of its outstanding 1.25% convertible notes due 2026 .
- The $1B offering includes an option for initial purchasers to buy an additional $100M in notes, with a conversion rate set at 333.3333 shares per $1,000 and an initial conversion price of approximately $3.00 per share .
- Offering Overview: Lucid Group plans a $1 billion convertible senior notes offering with an option for initial purchasers to buy up to an extra $100 million principal amount .
- Terms & Interest: The notes carry a 5.00% per annum interest rate, paid semi-annually, and mature on April 1, 2030 .
- Settlement & Conversion: Expected settlement is on or about April 8, 2025, with an initial conversion rate of 333.3333 shares per $1,000 .
- Use of Proceeds: Net proceeds, estimated at roughly $983.6 million (up to $1,082.2 million if fully exercised), will primarily fund the repurchase of outstanding 1.25% Convertible Senior Notes due 2026 and cover costs for capped call transactions, with additional funds for general corporate purposes .
- Hedging Strategies: The company will engage in capped call transactions and a prepaid forward transaction with Ayar—a subsidiary of Saudi Arabia’s Public Investment Fund—to support derivative hedging strategies .
- Lucid Group reported Q1 2025 production of 2,212 vehicles plus over 600 vehicles in transit for Saudi Arabia final assembly, and delivered 3,109 vehicles during the quarter.
- An earnings call to discuss Q1 2025 financial results is scheduled for May 6, 2025 at 2:30 pm PT / 5:30 pm ET, with details available via the company's investor relations website.
- Shareholders can submit and upvote questions through a partnership with Say Technologies ahead of the call.